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Monday, September 5, 2016

Breaking Down the 2nd Quarter 2016 Utica Shale Production Data

The Ohio Department of Natural Resources has now released the production data from the Utica shale for the second quarter of 2016. As always, we are going to give you a look at how the numbers compare to past quarters, past years, and how they break down among the various drillers who are active in Ohio and the counties where they are drilling. We also have the top 10 oil and gas wells detailed below.

First up, let's take a look at how the quarterly data compares from the 1st quarter of 2014 through the second quarter of 2016. As a reminder, all oil figures are 42-gallon barrels, and all gas production is measured in MCF:

QUARTER

# OF WELLS/# WITH DATA

OIL

GAS

DAYS

OIL/DAY

OIL/WELL

GAS/DAY

GAS/WELL

2014-1

476/418

1,950,979

67,333,945

28,019

70

4,667

2,403

161,086

2014-2

562/504

2,467,283

88,673,741

37,922

65

4,895

2,338

175,940

2014-3

717/674

3,013,667

132,017,386

50,858

59

4,471

2,596

195,871

2014-4

828/779

3,558,836

164,815,008

62,527

57

4,568

2,636

211,573

2015-1

926/877

4,432,304

183,585,255

69,745

63

5,019

2,632

209,333

2015-2

1020/978

5,594,633

221,860,169

80,724

69

5,704

2,748

226,851

2015-3

1134/1087

5,709,858

245,747,686

84,283

68

5,242

2,916

226,079

2015-4

1265/1230

6,249,116

302,505,428

102,378

61

5,081

2,955

245,939

2016-1

1351/1303

5,485,854

329,537,838

110,699

50

4,210

2,977

252,907

2016-2

1415/1365

4,839,792

334,257,982

118,036

41

3,546

2,832

244,878

Continuing the trend noticed in the first quarter results, oil production continues to slide. This time gas production joined in. While overall gas production increased, rates per well and per day in production both dropped.

The drop in oil production is clearer to see in this graph:

Next we look at the yearly production from 2011 to 2015 and see how it compares to the production through two quarters of 2016: